When WPP reported less-than stellar 2017 earnings this morning, its weakest underlying revenue growth since 2009, it caused the stock to drop by 13%–it’s biggest decline since 1998–wiping about $2.6 billion off its market cap.

Sorrell told CNBC, “We have to simplify how we operate, we have to be faster and better and cheaper in a world which is obviously being disrupted by technological developments, whether you are talking about manufacturing, media, or distribution, so we have to change the way we do things, simplify things.”JB